Which of the following is not true about the double auction mechanism implemented by Vernon Smith?
A) Asks must be ascending; they start low and go up.
B) Bids must be ascending; they start low and go up from there.
C) Asks must be descending; they start high and go down from there.
D) Any bid that is lower than the current lowest bid or any ask that is higher than the current highest ask is placed in a rank queue behind the current lowest bid and the current highest ask respectively.
Correct Answer:
Verified
Q2: A "call market" is one where:
A) the
Q3: A "continuous double-auction" is one where:
A) Buyers
Q4: A "posted-offer" market is one where:
A) Sellers
Q5: Which of the following is true about
Q6: Which of the following do Smith and
Q7: Which of the following do Smith and
Q8: Which of the following do Smith and
Q9: When it comes to posted offer markets,
Q10: Which of the following is generally true
Q11: Which of the following is generally true
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